Defence Industrial Strategy 2025: Economic Growth and Job Creation

Lord Stirrup Excerpts

Tuesday 3rd March 2026 Lords Chamber

[Lord Coaker (Lab)]

I agree with that. It is really important for the defence industrial strategy that we liaise with all the devolved Governments and, as my noble friend says, with local devolved councils and mayoral authorities. Kim McGuinness is the Mayor of the North East, in my noble friend’s part of the country, and I know of the work that he has done with local authorities. It is essential that we work with them to deliver the economic growth that we want across all the regions of England and nations of the UK.

[Lord Stirrup (CB)]

My Lords, the defence industrial strategy will have no economic effect. What might make an impact is a defence investment plan, backed up by the necessary level of resources. The absence of such a plan is undermining business confidence and investor confidence. When will the Government start taking such crucial decisions at a pace that matches the urgency of the international situation we face?

[Lord Coaker (Lab)]

I accept the point with respect to the publication of the defence investment plan. As the noble and gallant Lord will know, that will be published as soon as it is ready. Look at what has been happening. Noble Lords across this Chamber demanded that the Government spend money on Leonardos, and we announced investment in them just recently. We have also invested huge sums of money on the Clyde and at Rosyth to build new ships. We are investing huge sums of money to develop the dockyards in Plymouth to improve the availability of the submarines, and we are also making numerous investments, such as in Rolls-Royce, with a £9 billion nuclear programme over the next few years. I understand the point the noble and gallant Lord is making, but the Government are not standing still—we are already spending billions of pounds investing in our defence industry.